Token Release Date Announced by Zora: 10% Total Supply to Be Airdropped
Breaking: Zora's ZORA Token Airdrop is Set for April 23, 2025
Get ready, NFT enthusiasts! Zora Network, a leading layer-2 solution in the NFT sphere, has announced its ZORA token airdrop, set to drop on April 23, 2025.
Launched back in 2020, Zora has managed to grab $60 million in funding from big names like Coinbase Ventures and Haun Ventures. The announcement comes at a time when the NFT market is cooling off and the "content coin" debate is heating up.
Zora Airdrop Details Unveiled
According to Zora's official announcement, the airdrop will take place on April 23. This airdrop is aimed at users who have been actively engaged with the platform.
The eligibility criteria include two phases:
- The first phase spans from January 1, 2020, to March 3, 2025.
- The second covers March 3, 2025, to April 20, 2025.
Zora plans to distribute a whopping 1 billion ZORA tokens for this airdrop, which accounts for 10% of their total token supply of 10 billion. The Zora team will hold 18.9% of the supply. Strategic advisors and development supporters will have over 26%.
Binance is also joining in; it will list ZORA on Binance Alpha on April 23 and offer an additional 4,276 ZORA tokens to users who spent at least $50 on the platform between March 22 and April 20, 2025.
Current Market Perspective
As of now, ZORA is trading at around $0.03 on pre-market platforms. This price suggests that the airdrop is worth a staggering $30 million. With a fully diluted market cap of around $300 million, this airdrop could be a game-changer for Zora Network.
More than Just an NFT Marketplace
Zora isn't just an NFT marketplace; it also acts as a protocol that enables third parties to build and sell NFTs. A recent example is its integration with Base, Coinbase's layer-2 project. In fact, Base used Zora to tokenize a post titled "Base is for everyone," turning it into an ERC-20 token. This post generated over $30 million in trading volume within 12 hours and earned $70,000 in profit!
However, this event sparked controversy, with some users accusing Base of a "pump and dump" scheme after the token's price plummeted 99% within four hours. Despite Base denying the allegations, concerns about transparency in projects tied to Zora remain.
User Activity Trends
Data from Dune shows that Zora Network has processed over 87 million transactions. It currently attracts about 37,000 active addresses per day. However, user activity has taken a sharp dive, with the number of active users dropping by over 80% in the past year.
A recent report from Binance also suggests that the NFT market experienced a significant decline last month, with total sales volume across the top 10 blockchains dropping by 12.4%, indicating weaker buyer interest.
Despite the challenges, Zora's airdrop could help reinvigorate user interest and participation in the platform, potentially counteracting the cooling trend in the NFT market.
Remember, regardless of the exciting developments, always do your research and consult with a professional before making any decisions based on this content. Happy NFTing!
- With the announcement of the ZORA token airdrop scheduled for April 23, 2025, NFT enthusiasts can expect to participate in this event.
- Zora Network, a leading player in the NFT sphere, launched back in 2020, has managed to secure $60 million in funding from big names like Coinbase Ventures and Haun Ventures.
- Eligible users for the ZORA token airdrop must have actively engaged with the platform from January 1, 2020, to April 20, 2025, under two phases.
- Zora Network plans to distribute 1 billion ZORA tokens, which represent 10% of their total token supply, in the airdrop.
- Binance Alpha will list ZORA on April 23, 2025, and offer additional ZORA tokens to users who spend at least $50 on the platform between March 22 and April 20, 2025.
- As of now, ZORA is trading at around $0.03 on pre-market platforms, suggesting that the airdrop is worth approximately $30 million, and boasting a fully diluted market cap of around $300 million.
- Zora isn't just an NFT marketplace; it also acts as a protocol that enables third parties to build and sell NFTs, as evident from its recent integration with Base, Coinbase's layer-2 project.
- Despite concerns about transparency in projects tied to Zora, the airdrop could help reinvigorate user interest and participants in the platform, potentially counteracting the cooling trend in the NFT market.
